Aspen hospital earns good financial rating
December 3, 2008
ASPEN ” Aspen Valley Hospital received a good grade from the analysts at Moody’s Investors Service, which recently affirmed a “Baa3” type rating for the hospital’s $12 million of outstanding debt.
The outlook for investors in AVH bonds was identified as “stable” and reflecting the “strong financial performance and absolute and relative liquidity levels at AVH, tempered by the substantial long-term capital plans remaining,” according to a statement issued by AVH on Tuesday.
The hospital is pursuing a master facilities plan, now under the city of Aspen’s review process.
“We are extremely pleased with the Baa3 rating,” said Terry Collins, chief financial officer. “A number of hospitals have had their rating downgraded this year, in part due to the impacts of a general economic slump. Fortunately, we have been able to preserve cash, manage expenses, and thereby maintain our investment-grade rating.”